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Drumbeat: Ad Buzzaar
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Tuesday, June 2, 1998
Industry gives budget a cautious welcome
Our Bureau
MUMBAI, June 2: Ajay Piramal, Chairman, Piramal EnterprisesOverall, the budget is positive given that its pro-reform direction has not changed. The government's disinvestment plans in PSUs and the opening up of the insurance sector to private Indian companies, in particular, are extremely progressive steps.Adi B Godrej, MD, Godrej Soaps:
Bottomline impact: For some companies the cost would impact the bottomline wherever there import of raw materials attracts the 8per cent duty. If the 8 per cent is to balance out sales tax and octroi, it is justified. Export-Import: I dont think there was anything which would drastically change the export-import situation in the country" prices: The budget is inflationery, especially with the increase in petrol price. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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